Richie Alan Naggar... People first, then business!

I am amazed at the two sides of the controversy over failed personal debt. We all know the dynamics of the argument. I want to point out something leaning toward choosing a side when I do. I have loaned money out and secured that loan with a second Trust Deed. My faith at all times was in the property and no where else

MONEY LENDING IS BASED ON MATH

You see hard money lending is based on hard and fast facts. What will the property be worth under worst case conditions in the event of a failure to repay the loan. I spent 12 years around this subject matter and the only relief you can expect to get is the property itself.

PROPERTY IS SECURITY FOR THE LOAN

As a second lien holder, if the borrower defaulted, I would start foreclosures proceedings and if there was equity, I would be mindful of making payments to the first to protect my interests until the trustee sale. You get reimbursed for everything out of the sale. At no time do you spend any more time contacting the borrower

WOULD ANY LENDER SAY THIS TO YOU

Can you imagine a lender sitting down with a borrower or buyer and saying the following: Now you understand that you promised to pay me back and I am expecting you to do so. If you don't, the word will get out about you that you don't keep your word or your promises. You will be ostracized at church, in social gatherings, at the work place and in your own neighborhood. So you better pay me back or I will ruin your credit too

MATH IS THE GOVERNING FACTOR NOT ATTACKING THE BORROWER

When you engage math, it doesn't get emotional. Buying a home while it is fueled by emotion in the beginning answers to math and reality in the end . If the lender has got worries, deal with them up front. Require more of a down payment because employment and other assets may or may not be there in the future.

HERE IS A SURE FIRE WAY NOT TO LOSE LOANED OUT MONEY

Don't make the loan if you are not comfortable with the borrower or the property. As to the borrower regardless of their circumstances, the damages of losing a home, their money and their credit standing...well that remains a very personal journey and no ones elses business

Imagine a cookie served after your meal that is Real Estate based. You pop it open and on a small piece of paper is a witticism or word to the wise specifically for the industry players. I thought I would have a little fun here. Feel free to contribute and Bon Appetite

REAL ESTATE AGENT SAY.....

1. Buy land and not sand

2. Better to own then to moan

3. Where money went...when you rent?

4. Pay all commission or agent not on mission

SELLER SAY

1. Better to tell so easy to sell

2. Price in hand better than dream price

3. House look nice you get your price

4. House sell when you pay wage to get stage

BUYER SAY

1. No need to lie when you buy

2. Wise buyer puts appliances in contract

3. Buyer without agent missing eyes & ears

4. Better to buy then rent a tent

ESCROW SAY

1. To be official sign and initial

2. When document request you get no rest

3. Want to close... stay on toes

4. Good notary don't come free

TITLE SAY

1. Pre-lim say.. lien not the way

2. Spell name must be same

3. Before make buy..title say why

4. Better insure...not be poor

INSPECTOR SAY

1. Better to see then see not at all

2. Fix today... not worry tomorrow

3. Not all eyes see...need to call me

4. Inspector tell all when you call

INVESTOR SAY

1. Best ball to play called low ball

2. Not wise to sip when out to flip

3. Proof of fund give investor big gun

4. Arms length takes away strength

It all comes down to this wherever you go in person. Of course when doing some business online, you don't get the same dynamics even though you may get the results. In lots of retail activities and in all Real Estate transactions, it all comes down to eye to eye and ear to ear. Real Estate is a very personal business with large rewards

EXPERIENCE THE AGENT

It is important to work with an agent that you are comfortable with. That agent also has to know his territory and subject matter not just for their sakes, but for yours as well. Posting, blogging, and web site presence all help to introduce candidates for your consideration

ACTIVERAIN...THE YELLOW PAGES OF REAL ESTATE

Quickly becoming a stable in the assessing of a good area agent is ACTIVERAIN. On this site you will be able to experience and research the local savvy agents in the area that you are thinking of transacting in. ACTIVERAIN promotes healthy and essential dialog in regards to Real Estate.

GETTING TO KNOW YOU

It is important for all concerned that you reach quick comfort levels and then proceed to energize and focus the transaction for a predicable effective and efficient finish. Now, researching an area expert, and making contact is made very accessable and all that remains is the final "feel good" and close. For that, eye contact is recommended

Remember when an investor would show up and offer all cash and quick close? Agents went into warp drive and the banks took the bait and foreclosures and short sales were moving. Then, those same investors were spending a few well placed dollars and flipping for good money sometimes as much as a 60% return in a few short months

THE PARTY IS OVER

Banks and investors took a long hard look and correctly figured out that instead of a flipper making that much, they could make more and the flipper could make less. Multiple bidding kicked in and the banks garnered more for their share. Things slowed down a bit but moved steadily

ARMS LENGTH TRANSACTION

Many involved in the transaction process saw great creative opportunities and seized them and for a short while prevailed and made good money until the banks figured out again that these deals were too convenient and something wasn't right. Signing that the deal is not a coordinated effort between known parties became the norm. This slowed down the market just a little too

BANKS GET SAVVY

The banks have become savvy because of all the investors getting involved. In the beginning investors sped up all the sales because of all cash quick closings and then it slowed them down when the banks and investors saw they were losing too much money and that they could get more $$.

INVESTORS THROW OFF THE MARKET

In any event, investors throw off the market with all their turnover activity showing demand when in real life it is just nice returns on money invested. It is the stock market principal at work instead of the home-ownership dynamic. Owner occupied buys into the neighborhood and settles in for the longer haul. Investors go in and out causing spikes in numbers or rate of returns

CONSISTENT REAL ESTATE

Everyone is after quick equity and treating Real Estate as a short term gain. That will never do and evidence of making a quick return is starting to show up. Instead of steals and deals, we are returning to FAIR MARKET VALUE which benefits us all and chases away the quick buck artists

Always remember to get a local Real Estate agent involved for the best results

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